The key difference between provisions and liabilities is:
A) the party that the obligation is owed to.
B) whether the obligation is current or non-current.
C) the uncertainty regarding the amount or timing of the future sacrifice of economic resources.
D) whether there is an obligation.
Correct Answer:
Verified
Q1: Under the Conceptual Framework 'probable' in the
Q2: The key characteristic of contingent liabilities is:
A)
Q4: Which of these are contingent liabilities?
I. A
Q5: The requirement of IAS 37/AASB 137 that
Q6: What are the essential characteristics of a
Q7: Which of these is not normally regarded
Q8: A bank loan for $100 000, taken
Q9: A current liability is:
A) a liability expected
Q10: Which of these is not an essential
Q11: Contingent liabilities are disclosed in financial reports:
A)
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